Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Down 63.1% in February

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 16,800 shares, a decrease of 63.1% from the February 12th total of 45,568 shares. Based on an average daily volume of 63,015 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 63,015 shares, the days-to-cover ratio is presently 0.3 days.

Madison Covered Call & Equity Strategy Fund Stock Down 0.2%

Shares of MCN opened at $5.94 on Wednesday. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.16 and a 52-week high of $6.39. The firm’s fifty day moving average is $6.06 and its two-hundred day moving average is $6.06.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Monday, March 16th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of hedge funds have recently bought and sold shares of MCN. Royal Bank of Canada grew its holdings in shares of Madison Covered Call & Equity Strategy Fund by 5.9% in the first quarter. Royal Bank of Canada now owns 44,179 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 2,447 shares during the period. Independent Wealth Network Inc. raised its position in Madison Covered Call & Equity Strategy Fund by 6.3% in the third quarter. Independent Wealth Network Inc. now owns 59,132 shares of the investment management company’s stock valued at $365,000 after purchasing an additional 3,521 shares during the period. World Equity Group Inc. lifted its stake in shares of Madison Covered Call & Equity Strategy Fund by 4.9% in the 3rd quarter. World Equity Group Inc. now owns 104,173 shares of the investment management company’s stock valued at $643,000 after purchasing an additional 4,910 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Madison Covered Call & Equity Strategy Fund by 1.3% in the 4th quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock valued at $2,712,000 after purchasing an additional 5,773 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter worth $37,000.

Madison Covered Call & Equity Strategy Fund Company Profile

Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is a closed-end management investment company designed to provide investors with total return through a blend of current income and capital appreciation. Listed on the New York Stock Exchange, the Fund pursues its objective by investing primarily in equity securities of U.S. companies and employing an options overlay to enhance income generation.

The Fund’s investment approach centers on fundamental analysis to identify large- and mid-cap stocks with attractive risk/return profiles.